Investment Overview

Marcus & Millichap is pleased to exclusively present the Lit Café retail condominium, located in Chicago’s highly desirable Wicker Park neighborhood. The approximately 1,900-square-foot street-level storefront is fully leased to Lit Café, a specialty coffee operator offering hemp-infused beverages alongside a protein-focused bakery concept. The adjacent property to the west, Pop Craft Studio, is also available, presenting a potential dual-acquisition opportunity. The offering provides investors the opportunity to acquire a stabilized Triple-Net investment at an attractive 9.77 percent cap rate. The tenant operates under a new five-year lease with two additional five-year renewal options and 3 percent annual rent escalations, providing consistent rental growth throughout the lease term. Landlord responsibilities are limited to 9 percent of the foundation, structural concrete floors, and exterior walls, while the tenant reimburses its pro rata share of operating expenses. The property benefits from a dense and affluent trade area, with more than 527,000 residents within a three-mile radius and an average household income of approximately $182,000 within one mile. Located along Division Street near Milwaukee Avenue, the property benefits from strong pedestrian and vehicle traffic in one of Chicago’s most sought-after retail corridors.